The world’s largest rough diamond miner De Beers has introduced forward contracts for rough diamond sales.
DTC site holders can order diamonds supply ahead, including the specific quantities and qualities of stones required for monthly productions. Indian jewellers believe the new system could artificially increase rough diamond prices.
The first contract was issued in London on Tuesday and it is anticipated the contracts to bid for supplies for the year will be introduced in 2014.
De Beers posted a 6.29 per cent rise in rough diamond production for the first two quarters of 2013. Overall rough diamond production rose to 14.295 million carats form 13.449 million carats in the period last year.